Product Mix

Which one of the following is a benefit of new product development?

• It is cheaper to develop a new products
• The latest technology can be a feature of the new product
• Customers will always prefer newly developed products

Which of these products is an example of a consumer good?

• A bottle soap powder
• A washing machine repair service
• A drink can filling machine
• The design of an advertisement for computers

Which of the following is an advantage of a business having a well-known brand name?

• It will not have to do any advertising.
• It can charge lower prices as a result of brand recognition
• It can produce low quality products and sell them
• It will have good consumer recognition of its products

Which of the following definitions best explains the product life cycle?

• The length of time for consumers to use up all of a product
• The length of time a product stays on a market
• Stages of sales that a product passes through
• Length of time taken to make a new product

Which combination of price and promotion could be used for a product in decline?

• Raise the price and use an expensive advertising campaign
• Lower the price and tell consumers with an advertisement
• Raise the price and stop all advertising of the product
• Lower price & use  promotion to tell people to buy product

The marketing decisions that are made for all products.

• Marketing mix

• Marketing

• Market research

• Branding

Giving a product a distinct and recognizable identify.

• Marketing mix

• Branding

• Brand loyalty

• Packaging

A factor about a product that competitors’ products do not have.

• Brand loyalty

• Four Ps

• Unique selling position (USP)

• Marketing mix

Identifying customer wants and satisfying them profitably.

• Market research

• Marketing mix

• Marketing

• Branding

The right product at the right price with the right promotion in the right place.

• Four Ps

• Marketing

• Market research

• Product